Tue.Feb 07, 2023

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What results should you expect from using a collection agency?

American Profit Recovery

It’s a common question. What type of results should I expect from using a collection agency for my business? If your organization has made the decision to move forward on hiring a debt collection agency, you’ll be asking some common questions. How does the process work? What does the agency need from us? And of course, probably the most popular question about what type of results you might expect.

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Collector Facing FDCPA Class Action for Allegedly Communicating After Receiving Cease-and-Desist from Plaintiff

Account Recovery

EDITOR’S NOTE: This article is part of a series that is sponsored by WebRecon. WebRecon identifies serial plaintiffs lurking in your database BEFORE you contact them and expose yourself to a likely lawsuit. Protect your company from as many as one in three new consumer lawsuits by scrubbing your consumers through WebRecon first. Want to learn more? Call … The post Collector Facing FDCPA Class Action for Allegedly Communicating After Receiving Cease-and-Desist from Plaintiff first appeared

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California Federal Court Rules Employer’s Background Check Disclosures Meet FCRA Requirements

Troutman Sanders

A recent opinion issued by the U.S. District Court for the Northern District of California granted an employer’s motion for summary judgment, rejecting a series of technical arguments advanced by the plaintiff that the employer’s background check authorization forms violated the Fair Credit Reporting Act (FCRA). In Keefer v. Ryder Integrated Logistics, Inc.

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Judge Grants MJOP in FDCPA Case Over Time-Barred Claim

Account Recovery

A District Court judge in Pennsylvania has granted a defendant’s motion for judgment on the pleadings, agreeing with the defendant that the plaintiff’s complaint is time-barred under the Fair Debt Collection Practices Act’s one-year statute of limitations. A copy of the ruling in the case of Woods v. CACH can be accessed by clicking here. … The post Judge Grants MJOP in FDCPA Case Over Time-Barred Claim first appeared on AccountsRecovery.net.

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From Complexity to Clarity: Strategies for Effective Compliance and Security Measures

Speaker: Erika R. Bales, Esq.

When we talk about “compliance and security," most companies want to ensure that steps are being taken to protect what they value most – people, data, real or personal property, intellectual property, digital assets, or any other number of other things - and it’s more important than ever that safeguards are in place. Let’s step back and focus on the idea that no matter how complicated the compliance and security regime, it should be able to be distilled down to a checklist.

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Southwest Credit Cards Revives Limited-Time Companion Pass Offer

Nerd Wallet

Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com. Twitter: @sarakrathner. The article Southwest Credit Cards Revives Limited-Time Companion Pass Offer originally appeared on NerdWallet.

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We Must Do Better: Biden’s State of the Union Reminds Us of Our Power

Prosperity Now

The heart of President Biden’s State of the Union address came from a moment that honored Tyre Nichols and his

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Coming to RMAI in Search of Answers

Account Recovery

LAS VEGAS — Conferences are really one of the best barometers that we have in the accounts receivable management industry. The mood and topics of discussion, not just in the sessions, but in the hallways and quiet corners of a hotel, will tell you just about everything you need to know about the state of … The post Coming to RMAI in Search of Answers first appeared on AccountsRecovery.net.

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How Much Does a Funeral Cost?

Nerd Wallet

Connor Emmert writes for NerdWallet. Email: cemmert@nerdwallet.com. The article How Much Does a Funeral Cost? originally appeared on NerdWallet.

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Daily Digest – February 7. Collector Facing Class-Action for Allegedly Communicating After Cease-and-Desist; Coming to RMAI in Search of Answers

Account Recovery

COLLECTOR FACING CLASS ACTION FOR ALLEGEDLY COMMUNICATING AFTER RECEIVING CEASE-AND-DESIST For all the new and novel theories that are being tested with respect to lawsuits against companies in the accounts receivable management industry, there are no shortage of suit alleging that defendants are not doing the everyday things that they are supposed to do, like … The post Daily Digest – February 7.

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When It Comes to Collections Software, “Good Enough” Isn’t Good Enough

Are you finding some snags in your collections process? With delinquencies, and the number of consumers looking for payment assistance on the rise, it may be time to consider an efficient cloud-based software to support your team. Learn how MeridianLink® Collect has helped financial institutions like yours streamline collections processes.

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Cash Advances Still Sting, but a Credit Card Loan? Maybe Less So

Nerd Wallet

Sara Rathner writes for NerdWallet. Email: srathner@nerdwallet.com. Twitter: @sarakrathner. The article Cash Advances Still Sting, but a Credit Card Loan? Maybe Less So originally appeared on NerdWallet.

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California Court of Appeals Suggests Electronic Signatures Require Additional Proof for Authentication

Troutman Sanders

On January 19, a California Court of Appeals issued a decision calling into question the evidentiary value of electronic signatures. Dicta in the opinion directly contradicts a previous ruling in Gamboa v. Northeast Community Clinic , where the court stated the difference between physical and electronic signatures is a “distinction without a legal difference” because “electronic handwritten signatures have the same legal effect and are equally enforceable.

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Interest Rate Risk: Definition and Examples

Nerd Wallet

Alieza Durana writes for NerdWallet. Email: adurana@nerdwallet.com. The article Interest Rate Risk: Definition and Examples originally appeared on NerdWallet.

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Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data

Fico Collections

Home Blog FICO Top 5 Scores Posts of 2022: Steady FICO Score, BNPL and Alternative Data 2022 marked the first year in over a decade the average FICO Score did not increase, while the industry’s attention remained on topics such as alternative data and BNPL. Saxon Shirley Fri, 05/20/2022 - 06:06 by FICO expand_less Back To Top Tue, 02/07/2023 - 19:10 As the independent standard in credit scoring, FICO® Scores are the leading credit scores used extensively across the lending ecosystem. 2022 mark

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ERM Program Fundamentals for Success in the Banking Industry

Speaker: William Hord, Senior VP of Risk & Professional Services

Enterprise Risk Management (ERM) is critical for industry growth in today’s fast-paced and ever-changing risk landscape. When building your ERM program foundation, you need to answer questions like: Do we have robust board and management support? Do we understand and articulate our bank’s risk appetite and how that impacts our business units? How are we measuring and rating our risk impact, likelihood, and controls to mitigate our risk?

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The Guide to Lufthansa Business Class

Nerd Wallet

Carissa Rawson writes for NerdWallet. Email: articles@nerdwallet.com. The article The Guide to Lufthansa Business Class originally appeared on NerdWallet.

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Why Won’t the Clerk Enter Judgment In My New York Debt Collection Case

FFGN COLLECT NY

Most summons and complaints filed in New York debt collection cases are worded specifically with the necessary buzzwords and demand a certain sum. If the debtor defaults in the case, fails to appear or answer, the creditor’s debt collection attorney can then submit a judgment to the clerk for signature. In New York, there are certain limitations on entering default judgments.

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The Guide to American Airlines Wi-Fi

Nerd Wallet

JT Genter writes for NerdWallet. Email: travel@nerdwallet.com. The article The Guide to American Airlines Wi-Fi originally appeared on NerdWallet.

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Seventh Circuit Overturns Bankruptcy Precedent, Finds Transfer Occurs When Money is Paid

Troutman Sanders

On January 9, the Seventh Circuit overturned its own 39-year-old precedent to find that: (1) the definition of “transfer” for purposes of section 547 of the Bankruptcy Code depends on federal, not state, law; and (2) the date of “transfer” is the time at which the money passes to the creditor’s control. At a high level, section 547(b) of the Bankruptcy Code allows a bankruptcy trustee to avoid, as preferences, many transfers made by the debtor within 90 days before the filing of the bankruptcy p

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You Put in a Full Work Week. Shouldn’t Your Collections Software Do the Same?

Discover a modern, cloud-based collection system that never takes a rest day. MeridianLink® Collect is an intuitive platform with advanced customization options developed to simplify the collections process. Here are four ways MeridianLink Collect can support your team: Omnichannel communications Compliance rules & checklists Workflows & queues One interface with supporting integrations And that’s just the start.

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Are Cruises All-Inclusive?

Nerd Wallet

Ramsey Qubein writes for NerdWallet. Email: travel@nerdwallet.com. The article Are Cruises All-Inclusive? originally appeared on NerdWallet.

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U.S. credit card debt jumps 18.5% and hits a record $930.6 billion

Collection Industry News

For most Americans, inflation and rising interest rates are a one-two punch. On the heels of another rate hike this week by the Federal Reserve , credit card annual percentage rates are already near 20%, on average, and set to climb even higher. At the same time, more consumers are leaning on credit to afford increasingly expensive necessities, like food and rent.

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Looking Forward to Learning More

NACM

I finished NACM's Business Credit Principles course last week and received the certificate! As I submitted my very last quiz, I felt a great sense of accomplishment. The same feeling I'd get when I would run through the finish line in a track race—I would take the time to build my stamina and pace, then give it my all at the very end. As someone wh.

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